What changed
The application form and indicative checklist for voluntary surrender of CoR by NBFCs (including HFCs) have been revised following the Reserve Bank of India (Non-Banking Financial Companies – Registration, Exemptions and Framework for Scale Based Regulation) Amendment Directions, 2026, dated April 29, 2026, regarding Unregistered Type I NBFCs. The updated forms are now available on the PRAVAAH portal.
What it means for you
NBFCs seeking to exit the regulated space must use the revised forms and ensure complete documentation. The RBI explicitly warns that submitting an application does not relieve the entity from ongoing compliance obligations until formal cancellation is communicated. This tightens the surrender process and prevents premature cessation of regulatory adherence.
What you must do
- Access the revised application form and checklist on the PRAVAAH portal before initiating surrender.
- Ensure all required documents are complete and accurate as per the updated checklist.
- Continue to comply with all RBI/NHB guidelines and submit regulatory returns until you receive formal cancellation confirmation.
- Do not assume CoR is cancelled upon application submission; wait for RBI's written communication.
Who it affects
NBFCs (including HFCs) planning to voluntarily surrender their CoR, Compliance teams of NBFCs and HFCs, Auditors and consultants advising on NBFC exit processes
Can we stop regulatory filings after submitting the surrender application?
No. RBI explicitly states that mere submission does not cancel the CoR. You must continue all compliance and return submissions until RBI formally communicates cancellation.
Where do we submit the revised application?
The application form and checklist are available on the PRAVAAH portal. Submit the duly filled form with all required documents through that portal.